Intra-Day Market Moving News and Views USD/JPY
25 Apr 2014 01:17GMT
USD/JPY - 102.49 ... U.S.,Japan Issue Joint Statement: U.S.-Japan Security Treaty Covers Senkaku Islands;Japan, U.S. Oppose Any Attempt To Assert Territorial Claims Through Coercion;U.S., Japan Committed To Taking Bold Steps To Complete TPP; Have IdentifiedPath Forward On Bilateral Trade Issues; Will Inject Fresh Momentum Into BroaderTpp Talks; Share Strong Concern Over China'S Air Defence Zone In East ChinaSea; Share Strong Concern Over Actions Raising Tensions In East China Sea,South China Sea; U.S. Supports Japan'S Consideration Of Exercising Right OfCollective Self Defence; Japan, U.S. Reaffirm Interest In Building ProductiveRelationship With China.
The greenback jumped against the Japanese yen inTokyo morning due to the rise in Nikkei-225 index which rose by more than 100points after the release of US-Japan joint statement. Bids
Bids are located at 102.20 with mixture of bids nstops seen at 102.00. On the upside, some offers are tipped at 102.60/65 withstops are noted abv 102.75.
Japn'sFinMin Taro Aso says : CPI not bad, showing things are going well in endingdeflation; given sales tax hike, month-on-month gains are more important.
Aso made his comments after early release of theimportant Japan's inflation data, the annual Tokyo CPI rose to 2.9% vs previousreading of 1.3%, the sharp increase (fastest annual gain to 22-year high) wasdue to the raising of consumption tax to 8% fm 5% on 1st of Apr, this was thefirst hike since 1997.
Reuters reported core consumer prices in Tokyo, aleading indicator of nationwide inflation, rose 2.7% in Apr fm a year earlier,the fastest gain since 1992 as an increase in Japan's sales tax drove up pricesacross the board. The BoJ estimates that the sales tax hike - to 8% fm 5%, willadd 1.7% points to Japan's consumer inflation in Apr.
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